MasterCard is the name for two types of cards – a long established credit card credit and a more recent debit card. These cards are issued locally to consumers by banks, which pay for the right to use MasterCard's computer system to process transactions and to emblazon the instantly recognizable MasterCard logo on their credit cards. What this means to you as a customer is twofold. First, you pay your "MasterCard bill" not to the credit card company itself but to the bank that issued your card. Second, the issuing bank defines the rules regarding use of your card, and these rules may vary somewhat from one bank chain to another. MasterCard's credit and debit cards may be used to pay for online purchases, including casino deposits.
247 Bonuses at Casinos Accepting MasterCard
MasterCard in a Nutshell
What Is Mastercard?
Mastercard is a credit card system that allows transaction in over 210 countries worldwide. MasterCard first saw the light of day back in 1966, originally called "Master Charge." A group of banks in California created it to compete with the popular BankAmericard, the credit card that later became Visa. Master Charge was renamed "MasterCard" in 1979, which was changed yet again in 2006 to MasterCard Worldwide.
How It Works
At the time you sign up as a member of any online casino, choose "credit card" on the payment page and indicate that MasterCard will be your method of payment. You may be asked to email or fax proof of your identity to the casino the first time you actually pay by MasterCard. For subsequent deposits it should not be necessary. The funds will appear in your casino account and will later be charged to you on your credit card statement. There is a fee for using MasterCard.
The company is not permitted to accept charges for online gambling from US residents; however, nowadays many savvy US gamblers deposit to their favorite online casinos via e-wallet, which they then fund with their MasterCard.
To be eligible for a MasterCard credit card, you must live in one of the countries where it is issued, have a current bank account and pass a credit check. MasterCard is accepted by partner merchants throughout most of the world, with the exception of North Korea and several African and Middle Eastern nations.
MasterCard is simple and convenient to use and unlike other methods such as bank transfer, does not require that you have funds in your bank account at the time you make a payment. The card is widely accepted by online casinos and other merchants.
The limit for withdrawals is set by the casino.